Gulf Arab oil producers are expected to pump at least $300 billion in renewable energy projects by 2050 within a strategy to expand solar and wind sources in their energy mix, a Bahraini official was quoted on Tuesday as saying.

The six Gulf Cooperation Council (GCC) countries have already pumped nearly $100 billion into solar and wind projects although they control more than half the world's proven crude oil deposits, Chairman of Bahrain's Sustainable Energy Authority Abdul Hussein Mirza told the Saudi daily Alriyadh.

"The GCC countries are pushing ahead with renewable energy projects, mainly solar projects, to diversify their energy sources and save oil for exports...total investment in such projects are expected to exceed $300 billion by 2050," he said.

Citing international data, he said renewable energy projects in the GCC states of Saudi Arabia, Kuwait, Qatar, Bahrain, Oman and the UAE would add nearly 7 GW to their existing power output capacity in the next few years.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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